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Cameroon targets 98% financial inclusion with the National Payment Switch

Cameroon targets 98% financial inclusion with the National Payment Switch
  • Comments   -   Wednesday, 01 April 2020 14:30

(Business in Cameroon) - Substantially increase financial inclusion from the current 40% to 98%, which is the mobile penetration rate in Cameroon. This is one of the objectives of the national payment switch inaugurated on March 31, 2020, by Minette Libom Li Likeng (photo), the Minister of Posts and Telecommunications.

To achieve this result (which means that all Cameroonian mobile owners will have access to financial services) the Ministry of Posts and Telecommunications is certainly counting on the cheap mobile transaction costs the national payment switch will promote.

This platform, which guarantees fair interconnection conditions in the country, also helps to access mobile financial services via a single code #237#. Administered by state-owned postal company Campost, this innovation places the postal sector at the heart of the development of the digital economy, according to Minister Minette Libom Li Likeng.

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